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Asian Granito India Ltd forays into Sanitaryware

Posted On: 2019-04-19 22:40:52

With an aim to provide 'Complete Bathroom Solutions' under one roof, Asian Granito India Limited (AGIL), one of India's leading tiles companies has ventured into Sanitaryware. Company is entering the Sanitaryware segment with 160 SKUs in products including Wash Basins, Water Closets (WC), Urinals, etc. Commercial Launch of 'AGL Sanitaryware' is expected by June 2019 across India.

Company is launching Sanitaryware in the mid and mid premium segment under the brand name of AGL. Company is investing around Rs. 8 crores for the expansion in the Sanitaryware business and expect the segment to contribute around Rs. 80-100 crore in the next 4-5 years.

Mr. Kamlesh Patel, CMD, Asian Granito India Ltd said, "Expansion in the Sanitaryware is in line with company's growth strategy to focus on Asset light and Capital light business model, becoming a strong retail brand in the domestic as well as exports market and achieve a leadership position in key business segments. In line with our strategy, we are venturing in the Sanitaryware with 'Outsourcing Model' - Sourcing from domestic markets as well as import from Europe and China in the first phase. Company will be setting up its own manufacturing facilities in the coming time. Asian Granito is committed to become a leading 'Complete Bathroom Solutions' brand and is also planning to enter in the faucets in near future."

Asian Granito India Ltd will look to leverage its existing tiles marketing and distribution network for the Sanitaryware. Company has over 6,000 touch points with dealer & sub-dealer network; 291 exclusive AGL Tiles showrooms and 13 Company-owned Display Centres across India. Solely for the Sanitaryware vertical, company is in the process of appointing 30 exclusive distributors, 100 dealers and around 200-250 sub-dealers.

Mr. Mukesh Patel, Managing Director, Asian Granito India Ltd said, "Asian Granito India Ltd today is ranked amongst top 3 listed ceramic tiles companies in India and we would aim for a similar scale in the sanitaryware business in coming years. We are entering sanitaryware with 160 SKUs in Wash Basins, Water Closets {WC), Urinals, etc and expand the product range gradually. AGL Sanitaryware will launch commercial operations in June 2019 Pan India. We estimate the sanitaryware segment to contribute around Rs. 80-100 crore revenue over next 4-5 years."

Sanitaryware industry in India is estimated at around Rs. 4,500 crores and growing at around 10-12% annually. Morbi cluster in Gujarat accounts for about 65-70% of India's tiles and sanitary ware products in volume terms, with more than 800 factories in the region. 60% of the industry is organised while 40% with unorganised players.

Asian Granito India Ltd. (AGIL) has emerged as one of the largest ceramic companies of India having around 1400 design across segments. The company offers wide rand of products including, ceramic floor, digital wall, vitrified, parking, porcelain, glazed vitrified, outdoor, natural marble, composite marble & Quartz, etc.

Shares of ASIAN GRANITO INDIA LTD. was last trading in BSE at Rs.203 as compared to the previous close of Rs. 208.3. The total number of shares traded during the day was 13824 in over 223 trades.

The stock hit an intraday high of Rs. 211.8 and intraday low of 200.25. The net turnover during the day was Rs. 2811633.


Source: Equity Bulls

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